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Author: Johnson, Richard W.

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1.	Crystal, Stephen Johnson, Richard W.
1.	The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes Presented: Washington, DC, Population Association of America Meetings, March 1997 Cohort(s): Mature Women, Young Women Publisher: Population Association of America Keyword(s): Family Income; Family Size; Gender Differences; Inflation; Intergenerational Patterns/Transmission; Labor Economics; Labor Force Participation; Labor Market Outcomes; Retirement/Retirement Planning; Wages Permission to reprint the abstract has not been received from the publisher. Changes in the labor market over the past 25 years, including overall wage stagnation and increases in inequality, may affect retirement prospects for the baby boom cohorts. Using data from National Longitudinal Surveys of Mature Women and Young Women, we compare income trajectories for families from the baby boom birth cohorts with families from earlier cohorts. Our findings suggest that the overall retirement prospects of Baby Boomers are no worse than the prospects faced by cohorts born 20 years earlier. Adjusting for inflation and differences in family size, mean family income at midlife was higher for women born after World War II than for women born in the 1920s and 1930s, primarily because of increasing labor force participation by married women and declining family sizes. However, retirement outcomes for particular subgroups, namely single men and those with limited education, are unlikely to match outcomes experienced by their parents' generation.
	Bibliography Citation Crystal, Stephen and Richard W. Johnson. "The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes." Presented: Washington, DC, Population Association of America Meetings, March 1997.

2.	Crystal, Stephen Johnson, Richard W.
2.	The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes Report, No. 9801, American Association of Retired Persons, The Public Policy Institute, January 1998. Also: http://research.aarp.org/econ/9801_chngret.pdf Cohort(s): Mature Women, Young Women Publisher: AARP - American Association of Retired Persons Keyword(s): Family Income; Family Size; Gender Differences; Inflation; Intergenerational Patterns/Transmission; Labor Economics; Labor Force Participation; Labor Market Outcomes; Retirement/Retirement Planning; Wages Permission to reprint the abstract has not been received from the publisher. The purpose of this study is to explore and compare longitudinally the differences in labor market outcomes and economic well-being of the baby boom cohorts born between 1944 and 1953 and the experiences of age cohorts born between 1923 and 1937. In particular, the study is motivated by the possible impact of the ?period effects? of baby boomers entering the labor market at a time when wage growth slowed and when wage inequality increased, particularly among less skilled male workers. It explores the consequences these experiences may have on baby boomers? long-term economic prospects.
	Bibliography Citation Crystal, Stephen and Richard W. Johnson. "The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes." Report, No. 9801, American Association of Retired Persons, The Public Policy Institute, January 1998.

3.	Johnson, Richard W.
3.	The Impact of Human Capital Investments on Pension Benefits Journal of Labor Economics 14,3 (July 1996): 520-554. Also: http://www.jstor.org/stable/2535365 Cohort(s): Older Men Publisher: University of Chicago Press Keyword(s): Benefits, Fringe; Human Capital; Modeling; Occupational Choice; Pensions; Social Security; Training, Occupational; Training, On-the-Job This article develops a model, with deferred compensation and severance pay, that predicts that workers bear all the costs and receive all the returns of human capital investments and that specific investments yield higher returns than general investments. This model also predicts that pensions, which efficiently defer compensation, will be positively related to specific investments. Evidence from the National Longitudinal Survey of Older Men confirms these predictions; participation in company-sponsored training programs, proxying for specific investments, increases the probability of pension receipt and the level of benefits. More general training outside the firm has much smaller effects on pensions.
	Bibliography Citation Johnson, Richard W. "The Impact of Human Capital Investments on Pension Benefits." Journal of Labor Economics 14,3 (July 1996): 520-554.

4.	Johnson, Richard W.
4.	Wages and Pension Benefits Among Older Workers: Theory and Evidence Ph.D. Dissertation, University of Pennsylvania 1993 Cohort(s): Older Men Publisher: UMI - University Microfilms, Bell and Howell Information and Learning Keyword(s): Benefits; Human Capital Theory; Job Training; Pensions; Private Sector; Social Security; Taxes; Training; Wage Dynamics; Wage Growth The three essays in this dissertation analyze wages and pension benefits among older workers. The first chapter suggests that the role of pensions in the labor market is to provide an optimal means of deferring compensation once workers invest in specific human capital. The second chapter analyzes differences in pension coverage in the public and private sectors and finds evidence that the relative generosity of pensions among government workers can be explained by the ability of taxpayers to underfund government retirement plans. The third chapter re-examines the evidence on whether real wages decline with age among older men.
	Bibliography Citation Johnson, Richard W. Wages and Pension Benefits Among Older Workers: Theory and Evidence. Ph.D. Dissertation, University of Pennsylvania 1993.

5.	Johnson, Richard W.
5.	Wages, Pensions, and Compensation Profiles Presented: San Francisco, CA, Population Association of America Meetings, 1995 Cohort(s): Mature Women Publisher: Population Association of America Keyword(s): Benefits; Benefits, Insurance; Demography; Life Cycle Research; Pensions; Wage Levels; Wage Models; Wages Permission to reprint the abstract has not been received from the publisher. Data limitations have generally limited our knowledge of labor market compensation to what can be learned from information on wages. However, inferences drawn from an analysis of wage levels and age-wage profiles may be misleading, since a significant portion of total compensation is received in the form of non-wage benefits. Moreover, many types of benefits, such as pension wealth and health insurance, do not accrue evenly over the life-cycle; instead, they tend to be backloaded late in the career. Recently released data from the National Longitudinal Survey of Mature Women now enable researchers to consider a more complete definition of compensation. In addition to providing a 22-year wage history, the NLSMW includes a pension provider supplement, supplying detailed information on the pension plan provisions of respondents and their husbands. Using these data, I calculate the sum of wages and annual accruals to pension wealth, and analyze how this sum changes over the life-cycle. I compare these profiles for different demographic groups.
	Bibliography Citation Johnson, Richard W. "Wages, Pensions, and Compensation Profiles." Presented: San Francisco, CA, Population Association of America Meetings, 1995.

6.	Johnson, Richard W. Favreault, Melissa M. Jones, Landon Y.
6.	Trends in the Joint Retirement Decisions of Husbands and Wives Presented: Los Angeles, CA, Population Association of America Annual Meetings, March 2000 Cohort(s): Older Men Publisher: Population Association of America Keyword(s): Age and Ageing; Earnings, Husbands; Earnings, Wives; Pensions; Retirees; Retirement/Retirement Planning Permission to reprint the abstract has not been received from the publisher. Although usually modeled as an individual decision, retirement is often a family decision that husbands and wives make jointly. Since couples generally prefer to spend their leisure time together, many husbands and wives retire at roughly the same time. However, the timing of retirement is influenced by financial incentives, with workers often choosing retirement dates that maximize pension wealth. Thirty years ago, when most women did not have extensive employment histories and pension wealth was generally much larger for husbands than wives, men and women could choose optimal retirement dates based on the husband's pension plan alone. In recent years, however, as the employment histories of wives have grown, women may suffer substantial pension losses if they simply follow their husbands into retirement. In this paper, we examine changes over time in the joint retirement behavior of husbands and wives, using data from the National Longitudinal Survey of Older Men and the Health and Retirement Study.
	Bibliography Citation Johnson, Richard W., Melissa M. Favreault and Landon Y. Jones. "Trends in the Joint Retirement Decisions of Husbands and Wives." Presented: Los Angeles, CA, Population Association of America Annual Meetings, March 2000.

7.	Johnson, Richard W. Neumark, David B.
7.	Age Discrimination, Job Separations, And Employment Status of Older Workers: Evidence from Self-Reports NBER Working Paper No. 5619, National Bureau of Economic Research, June 1996. Also: http://nber.nber.org/papers/W5619 Cohort(s): Older Men Publisher: National Bureau of Economic Research (NBER) Keyword(s): Age and Ageing; Discrimination, Age; Heterogeneity; Labor Market Outcomes; Self-Reporting This paper explores the prevalence and consequences of age discrimination in the workplace by analyzing self-reports of discrimination by respondents in the National Longitudinal Survey of Older Men. Age discrimination was reported in seven percent of our cases, during the period 1966-1980. Workers with positive reports were much more likely to separate from their employer and less likely to remain employed than workers who report no age discrimination. The estimated effect of reported discrimination remains large and significant even when controlling for the existence of mandatory retirement provisions on the current job. These findings are generally robust to numerous attempts to correct the estimates for the inherent limitations of self-reported data, particularly the potential heterogeneity bias that arises from differences in the propensity to report discrimination, and the possibility that discrimination is reported in response to other negative labor market outcomes. Full-text available on-line: http://nber.nber.org/papers/W5619
	Bibliography Citation Johnson, Richard W. and David B. Neumark. "Age Discrimination, Job Separations, And Employment Status of Older Workers: Evidence from Self-Reports." NBER Working Paper No. 5619, National Bureau of Economic Research, June 1996.

8.	Johnson, Richard W. Neumark, David B.
8.	Age Discrimination, Job Separations, and Employment Status of Older Workers: Evidence from Self-Reports Journal of Human Resources 32,4 (Fall 1997): 779-811. Also: http://www.jstor.org/stable/146428 Cohort(s): Older Men Publisher: University of Wisconsin Press Keyword(s): Age and Ageing; Discrimination, Age; Employment; Job Turnover; Labor Market Outcomes; Self-Reporting This paper explores the consequences of age discrimination in the workplace by analyzing self-reports of discrimination in the National Longitudinal Survey of Older Men, for the period 1966-80. Workers with positive reports were much more likely to separate from their employer and less likely to remain employed than workers who report no employer related age discrimination. The findings for job separations, but not employment status, are robust to numerous attempts to correct the estimates for the inherent limitations of self-reported data, particularly heterogeneity in the propensity to report discrimination, the influence of mandatory retirement, and the possibility that other negative labor market outcomes are attributed to discrimination.
	Bibliography Citation Johnson, Richard W. and David B. Neumark. "Age Discrimination, Job Separations, and Employment Status of Older Workers: Evidence from Self-Reports." Journal of Human Resources 32,4 (Fall 1997): 779-811.

9.	Johnson, Richard W. Neumark, David B.
9.	Wage Declines Among Older Men Preliminary Paper, Population Studies Center, the University of Pennsylvania, 1992 Cohort(s): Older Men Publisher: University of Pennsylvania Press Keyword(s): Age and Ageing; Human Capital; Social Security; Wage Dynamics; Wage Growth; Wage Rates; Wages, Men This paper re-examines the evidence an whether real wages decline with age among older men. While the human capital model of wage growth predicts that wages will fall as workers near the end of their career, we demonstrate that two alternative theories -- based on the shirking model and the forced-saving hypothesis -generally do not predict wage declines for older workers. Our analysis indicates that factors other than the depreciation of human capital can explain most of the drop in wages. In particular, longitudinal estimation of age-wage profiles reveals that much of the observed decline in cross-sectional data results from the tendency of lower-wage workers to remain at work while collecting Social Security.
	Bibliography Citation Johnson, Richard W. and David B. Neumark. "Wage Declines Among Older Men." Preliminary Paper, Population Studies Center, the University of Pennsylvania, 1992.

10.	Johnson, Richard W. Neumark, David B.
10.	Wage Declines Among Older Men The Review of Economics and Statistics 78,4 (November 1996): 740-748. Also: http://www.jstor.org/stable/2109961 Cohort(s): Older Men Publisher: Harvard University Press Keyword(s): Age and Ageing; Human Capital; Life Cycle Research; Social Security; Wage Dynamics; Wage Growth; Wage Rates; Wages, Men Permission to reprint the abstract has not been received from the publisher. The evidence on whether real wages decline with age among older men is examined. While the general human capital model of wage growth over the life cycle predicts that wages will fall as workers approach the end of their career, alternative models of wage growth do not predict these wage declines. It is found that in the longitudinal estimates of age-wage profiles wage declines only set in for workers in their 60s. Furthermore, these longitudinal declines are at least partly due to interactions with the Social Security system. The earnings cap or other effects of Social Security appear to lead some workers to choose jobs and job characteristics associated with lower wages. (ABI/Inform)
	Bibliography Citation Johnson, Richard W. and David B. Neumark. "Wage Declines Among Older Men." The Review of Economics and Statistics 78,4 (November 1996): 740-748.

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